237 8
I don't know when this 'wave' rotation / retest will occur, but JBLU had a massive accumulation phase, break out. It's going higher this year... with earnings coming up, the most fun flight would be a gap down into $20.58 ish and then a bounce. :-)
Comment: DiRRRRRRRty
Thanks for helping us Enrich Lives!
+1 Reply
@feathers, THANKS! ;-)
Just an update.. :)
You will have to get to Jun-2017 Option Expiration to get $0.75 in the Put Sell since this stock is not volatile enough. Are you recommending going that long in terms of time expiration, or are you suggesting something shorter? A correction in the overall market might bring it to $19 quickly, although I agree with your chart pattern.
@kenny1924, well Stan has had his put sale
For a while. It expires next week. I agree, you would need to sell it longer term to bring in real money. And this stock doesn't pay dividends. :/
Therefore it's not a trade I'll take personally but as it pulls back, prob a good one for shares since it's not very expensive!
kenny1924 Reallifetrading
@Reallifetrading, that is perfect and it makes sense. Yes, I like doing Put Sells and Call Sells a lot for many years, but just do not get the time to do it consistently. And, I like to do it to great blue chips, stocks paying dividends, and also stocks that will be good to keep for a long time. The only time this will bite, and it WILL, is when we go into a bear market / correction / consolidation, and hence I like to do these Put Sells spread over various strike prices, and most importantly over a few time frames (1-2-3-4-5-6 monhts), so if Trump says something, or Yellen increases rates too quickly, I will not be put the stock in a given month. The only month I have too many clustered together is Jan (every year) due to the LEAP transactions that I have been doing for a while.
+1 Reply
@kenny1924, SWEET! I love it. Thanks for filling me in champ!
@kenny1924, Nice pull back. ; -)
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